Globally, real estate costs
are at an all-time high
The following is a guest blog written by Alison Dahlman of Condeco Software, leading providers of occupancy sensing and digital signage technology, as well as room and desk booking tools. Condeco works with the world’s most progressive brands to reconfigure and maximize their dynamic workplaces.
When you consider the expense of having a private workspace, you begin to realize where you can improve efficiencies and cut costs – and what company isn’t looking for simple, effective ways to do this throughout their enterprise?
To start, evaluate your workspace usage. As you can see from the diagram below, most businesses assume they have 60-70% workspace utilization, when it is significantly lower.
Take into account that real estate is among the highest expense for a business, the financial implications for more efficient workspace usage are huge.
Here’s why you should make the case for workplace management software:
4 Major Factors that Affect Workspace Needs
1. The Rising Cost of Corporate Real Estate
Globally, real estate costs are at an all-time high. As your operating costs rise, it is imperative your company maximizes real estate and monitors usage to avoid wasted space.
2. An Increase in Flexible & Remote Job Opportunities
As companies offer greater work flexibility, the number of flexible or remote employees has increased. By 2020, researchers predict that flexible working will be the main mode of working for 70% of organizations.
Related article: How the Gig Economy Is Impacting the Corporate Workplace
3. Productivity is Key
Rather than measure how long someone spends at a desk, productivity needs to be monitored in terms of goals and deliverables. If you adapt to the physical and virtual world of work, you can foster greater productivity.
Related article: How Do You Measure Knowledge Worker Productivity
4. Attract & Retain the Best Talent
The average cost to replace a team member is $40,000, so keeping your top talent is a worthwhile investment. Additionally, when seeking prospective employees from younger generations, think about building a corporate culture that’s more in-tune with today’s work and lifestyles.
Related article: 3 Workplace Strategies for Attracting Top Talent
Solutions that Save Time and Space
Modern workplace technology, including room booking and desk booking software, digital signage for meeting rooms and workspace occupancy sensors, help businesses address these four workplace challenges. Innovative workplace management software enables companies to simplify their space management, maximize workspace usage and minimize overall space needs, ultimately cutting costs. Smart companies today want workplace management software that comes with benefits such as:
- Improving employee performance – your workforce will enjoy the accuracy, convenience and flexibility of the workspace. Whether it’s having meeting rooms available for collaboration or an open desk for individual work, employees will be able to use these resources when and where they need it – decreasing downtime, increasing productivity.
- Driving better decisions – by knowing how workspaces are used on an hourly, daily, weekly and monthly basis, companies can analyze this data to develop their workplace allocation strategies and future real estate plans.
- Improving the bottom line – with fewer wasted resources. Do-it-yourself workspace bookings, as well as better use of existing real estate and future real estate ventures, result in reduced costs.
To help bring the benefits of these valuable innovations to your company, take a closer look at how they can aid key individuals and support groups by downloading our Making the Case for Workplace Software guide. It details frequently encountered workplace challenges and the advantages of workplace management software for nine roles (or operational groups) found in most companies.
Transforming your business with these new technologies can be easy with the right workplace management software and technology partner. Many major corporations are already realizing significant savings on real estate and resource requirements, resulting in better performance on the bottom line. Be sure that your company joins that list.